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Through May, there were 32 U.S. bank mergers and acquisitions announced, fewer than half of the 66 deals announced over the same span of 2022. But analysts say higher costs and more regulation could spur consolidation.

FDIC Chairman Martin Gruenberg announced that regulators will soon issue a proposed rule to finalize U.S. implementation of the most recent revisions to the Basel III capital framework. Among the expected updates are changes to capital requirements for banks with assets of more than $100 billion, three of which failed this spring.

CEO Jamie Dimon has called the AI initiative, which includes a vast hiring campaign, "critical to our company's future success."

The bank's $4.6 billion commitment is smaller in size and shorter in duration than a previous plan. It also pledged $9 billion to sustainable finance initiatives over the next three years.

The chairman of the Federal Reserve told the House Financial Services Committee that no decisions have been made about regulatory changes, but whatever does come to pass will take time to implement.

Bank of America had a 55% increase in new clients in May, and the lender is planning to bulk up staffing to keep up with demand. 

Barefoot, co-founder of the Alliance for Innovative Regulation, works to help regulators innovate. She is one of American Banker's most influential women in fintech.

The Senate Banking Committee sent the bill led by the panel's chairman, Sherrod Brown, D-Ohio, and ranking member Tim Scott, R-S.C., to the full Senate in a 21-2 vote.

Data from recent bank failures suggests that prevailing assumptions about which deposits are the most volatile could be dangerously flawed.

Longstanding factors such as the share of local deposits held by each bank will no longer be the main considerations in determining the competitive effects of a deal, said Assistant Attorney General Jonathan Kanter. His speech was interpreted as a hint that banks seeking merger approvals could face tougher times ahead.

Trucking companies saw a boom during COVID as homebound consumers spent big on goods that needed to be shipped. Now comes the bust, with some firms going bankrupt or struggling to pay back their loans.

Senate Banking Committee Chairman Sen. Sherrod Brown, D-Ohio, and ranking member Sen. Tim Scott, R-S.C., will have to contend with members of their own parties who would prefer a more sweeping executive compensation clawback bill.

Federal Reserve Vice Chair for Supervision Michael Barr said he is overseeing a six-month project to overall supervisory culture, practices, behavior and tools. He said regulatory changes will also be explored.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That's wrong and short-sighted.

Answers that used to take employees 15 minutes to find, they can now obtain in seconds using the enterprise version of ChatGPT.

Banks and credit unions have come out against the Consumer Financial Protection Bureau's proposal to cut credit card late fees to $8, saying that figure is too low to cover costs. Finding a more suitable number might save the bureau a lot of trouble.

Smith joined the bank in January after serving as president of Keller Home Financial Services and heading Citi's U.S. mortgage business.

NomuPay has acquired parts of the disgraced processor that could help it overcome the barriers of entry to the lucrative market.